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for over 50 years. last may we learned that the i.r.s. targeted conservative groups seeking tax exempt status. for over ninth months committee investigators have reviewed hundreds of thousands of internal i.r.s. documents and interviewed i.r.s. officials regarding the targeting. our investigation is not yet over and the ways and means committee continues to wait for the i.r.s. to turn over lowest learners emails. despite the ongoing investigations both in congress and by the inspector general, last november treasury rushed forward with proposed new regulations to stifle 501-c-4 groups upending rules that have been in place for over half a century. the speaker pro tempore: the gentleman have is recognized. -- the gentleman is correct. the house will come to order. please take all conversations off the floor, please clear the . sles the gentleman from michigan is recognized. mr. camp: under the proposed rule social welfare organizations will face additional unprecedented scrutiny for engaging in the bows basic unpartisan political activity. such as organizing nonpartisan get out the vote
for business and capitalism. we'll have a live update in just a few minutes. >>> also supply side tax reform is back. dave camp is going to unveil his new plan tomorrow morning. we'll join us on the "kudlow report" in the evening. we will preview the story tonight. >>> we have the fcc commissioner who blew the whistle on the government's attempt to dictate and bias news stories. now we learn that this government assault may not be over. all those stories and much more coming up on the "kudlow report" beginning right now. >> good evening, everyone. i'm larry kudlow. this is the "kudlow report." we're live at 7:00 p.m. eastern and 4:00 p.m. on the west coast. our top story tonight, will arizona governor jan brewer veto a gay discrimination bill passed by the state legislature. nbc news joins us with the details. good evening. >> reporter: of course the poe opponents call it a religious freedom bill. in any event, governor brewer who is on the spot on this has just returned to arizona after attending a three-day governor's conference in washington. she'll know that the momentum toward a veto ha
a first league should i have to against poor region taxes if i have to collect. what happens to the millions of retirees who right now might be holding puerto ricans ons. did that kind of been be granted by the border region government? >> a big question and the great question. you mentioned earlier quarter rico is widely held investment investor client portfolios. i think it is. we get asked an awful lot of questions about puerto rico which means it is still widely held and does have implications for the existing bonds. that is one element of what many of these investors are looking for. they want to be adjudicated in new york but what does that mean? of the restricted these bonds pdjudicated in new york versus all the other $70 billion of debt that get adjudicated in puerto rico soil, one court says one thing, another court says another, who wins? the federal government has to what does that mean for existing bondholders? a lot of complexity and questions still remain until we really see the details of this particular deal. adam: what is frustrating for investors is the spe
a huge change to tax cuts. what are they planning? >> this would collapse seven brackets into two brackets for essentially all taxable income, ensuring 99% of taxpayers face maximum rates of 25% or less. specifically, this is how he will do it. theof americans would be in 25% tax bracket. those who are above that would be hit with an additional rates. this would make filing a lot more >>, because instead of seven tax brackets we would be down to two, or i guess at least three. you would have that additional 10% tax for those making over 100 $50,000. moreover, it would end the unequal treatment for the carried interest private equity managers pay themselves. does this plan have legs? we are joined by the american action forum director of fiscal -- gordon, i will start with you. is there a chance we could see something like this get through congress? be great. that would there is a lot of debate out there about how big an effect tax reform could have on it, but i think there is a broad consensus that in general it is universally positive. if you ask anybody out there, should we do s
construction jobs. the federal gas tax has been capped around 17 cents a gallon. drivers from the northeast to the midwest don't need a reminder how bad our roads can be. the drivers $6.5 billion. jonathan, how about those potholes, do you have a view on that? >> i like to avoid them. >> i'm anti-potholes, too. >> that's all the time we have. it was nice having you on. >> thank you, ari, i appreciate it. >> $300 billion over four years. put aside the skepticism about getting anything done in washington. walk us through you there at the white house what you know about this and the plan. >> well, i think what you've got is the president again trying to get congress, trying to get the government to invest in infrastructu infrastructure. this is something he's been trying to do for several years. not just invest in it, invest in it ahead of time so as anthony fox, the transportation secretary said earlier today, you don't continue to put band aids on for the nation's highways and other infrastructure. that's what we've been doing to borrow a term for the show. there's been a cycle
, everything about boxing changed. >> thank you, neil. >> then came thatarn pay-per-view, destroyed it? 7 tax bracket? how would you like 2? e plan to maker tax code - super simple is already doa, it neil: do not expt the president to sign if bu i has not stopped a growing numberf republicans from pushing it two tax rates, not 7, but two. 10% and 25%. odds of that ever happening,'m putting them at '0%, but grover fore queser more quest said this is about republicans making a staple, grover, what do you make of this, others have been talking in press, and opinion pieces,ike now is the time. i hear that. when the great ideas are mentioned, then nothing happens. >> we shoul have done this a long time ago, now is not the time because it was the wrong thing to do last week or last yeaa. we ave allowed our marginal tax rates on independent side to creep up -- individual side to creep up ove 40%, corporate side 35% at feder level, 4.8%, at state level. 5%. so our cor corporate rate is 40% gen state corporate income taxes. neil: i think you are being conservative on that. i think wt people realize wi
the president, have a vote in congress or pay federal income tax. but the island debates to the island's peculiar status. these issues take a backseat to the problem of puerto rico is in trouble. >> graphic design professional for more than 26 years on the island. owned my own apartment, family close by, clients and so forth. >> today she owns a hardwood flooring company with her husband. she said a drying up economy left them no choice but to leave. >> we could see criminality was rising, and we could see that the buildings, mr. there were run down and a lot of businesses for sale. >> sÁnchez is one of the thousands who have left puerto rico for work. >> in a lot of businesses, in the main avenues, a lot of homes for sale. these are in nice neighborhoods, and they would stay for sale for a long time. then you see the grass growing and the trees and all of a sudden this property has been abandoned. this is it. either i move or i'm going to be losing what i have here. >> and in each "for sale" sign sÁnchez saw cropping on her street a deeper economic problem boiling. junk status. that
from american tax collectors. it's the stuff of countless spy novels but senators say it it's all too real. $12 billion hidden away in suisse bank accounts, none of it taxed. top creditors of credit suisse accused of helping u.s. customers evade taxes in hidden accounts and overseas shell companies. brady doingen was contrite. >> credit suisse management team regrets deeply despite the industry leading measures we put in place we had suisse bank private bankers who appear to have violated u.s. law. >> doingen blamed a small group, and whoever is to blame, their methods were cloak and dagger. bank statements were slipped into a copy of "sports illustrated" and handed to a client. and in in an airport where clients never had to leave airport ground. after each transaction account statements were immediately shredded. it was all done without filing any u.s. tax. >> the jigs is up. >> senators want client names, but creditors say they're squeezed between u.s. and suisse law. >> you think you're going to be convicted in a suisse court. is the suisse government going to prosecute you if you
. gerri: yourself included. look at delta 2015 sky miles program, excluding taxes and fees that is important exclusion, my friend. here is what you're looking at the a miles per dollar are five. people get the biggest bang for your buck, obviously diamond medallion flyer. if you're a super-duper flyer maybe you're okay. >> maybe you're okay. you don't now because they might jack up award levels more. even throwing a few crumbs here, if they increase the amount of miles to redeem by 100% you're not really coming out ahead. gerri: once you back out taxes and fees, everything else, come on are you taking a 50% hit? are you taking 25% hit. >>> in u.s. taxes and fees are not too much -- gerri: but your viewpoint. i know lot of people aren't too happy about them. >> government fees are usually $5 on domestic ticket. it is really international. fuel surcharges and flying through london you will see 350-dollar fees on tickets. none of that counts towards earning miles. it is a lot less than people think. gerri: a lot of people will defend this saying, it is a tough business out th
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suisse today after a senate board accused the bank for helping americans evade millions in taxes. helping hide as as it is from the government. so far the government has learned of 228 account holders. credit suisse agreed to pay a fine for violating u.s. securities laws. mike viqueira on capitol hill, there were sharp exchanges in that senate banking sub committee hearing room today. >> reporter: you're absolutely right because that investigative committee of the united states senate spent a lot of years looking into the swiss banks, sending billions of dollars into secret accounts to try to aprovide paying taxes here in u.s. it appears certain suisse bankers have nothing--james bond has nothing on suisse bankers. >> reporter: it's the stuff of countless spy novels by some senators say it's all too real. as much as $12 billion hidden away in suisse bank accounts. all secret, none of it legal, none of it taxed. top officials of credit suisse, called before a senate panel accused in a congressional report of helping 19,000 u.s. customers evade taxes through hidden accounts and ov
with phil mattingly. he has details on the senate cost offshore tax evasion hearing. what was the primary defense today? >> he was more than willing to acknowledge that a small number of credit suisse bankers went above and beyond to help u.s. citizens of the taxes. senior management was deeply regretful for those actions. they said that they were on a pathway to reforming themselves. they work to try to change that. that was not enough for the senate chairman. take a listen. >> you do not want to be in the purely business that dirty business of helping u.s. clients she on her taxes. it is important if you are really going to the a reform bank that you have got to acknowledge what is clear in our report, the wrongdoing went beyond these mulgrew of rogue bankers. iswhat you see right there the senator nailing the biggest difference. claims that this was just a small number of bankers who were involved. in a report released by the committee, it is a very large number of bankers, as many as 1800, may have been involved. that was not results yet. hear frommittee will top justice department of
care. irs telling people they will face shared responsibility tax. melissa francis is here to talk about all of. that how are you. good day to you. what is the warning from the white house? >> they want you to know when you file your tax return next year they will look back at this year starting in january and wanting to make sure that everyone has had insurance every month and if not, you are going to face a penalty when you file your tax return. and you think you are safe, there is a lot of confusion and didn't have insurance, they want you to know that you will face a penalty for the january month that went by? >> what is the penalty. one percent of the house hold or 95 per dult plus 47.50 up to $285. which ever is higher that is going to pay. over time it is going up to 2.5 percent of the adjusted gross income or 2085 which is higher? >> and some people call it a tax. no, no. it is not a nice word. you don't like tax. it is shared responsibility payment. it is your responsibility and mine and theires is going to help you share your dollars with the rest of the country. so now t
of shutterstock. >> "market makers" is back in a couple of minutes. credit suisse in testimony over taxes. >> brady dougan is in the hot seat. ♪ >> live from bloomberg headquarters in new york, this "mark and make -- "market makers." inbuying more real estate puerto rico. we will tell you why this is track -- attracting a lot of attention and what it means for the economy. plane new republican tax promises to track taxes at just 25%. will a simple -- >> hollywood "house of cards." how the gains have changed. hollywood's biggest stars are out there lobbying for one-on-one. welcome back. i am stephanie ruhle. >> i am erik schatzker. it is 11:00 on wednesday. >> i want george clooney knocking on my door with the dvd and a bag of popcorn in his hands thank him let's watch this movie together. >> right now in washington, it is uncertain -- uncle sam versus switzerland. the subcommittee is holding a hearing today to give the u.s. government names of american citizens who might have used those swiss bank accounts to avoid taxes. senator john mccain caught -- called the inquiry a joke. he would
spent over $1.5 trillion which averages out to about $11.2 million tax dollars paid every hour by the american people. in today's national paper, the "usa today," and other headlines, the headline is this, "obama to karzai: time running out for security deal." madam speaker, based on recent polls this would be good news to the american people if we would not continue this relationship with afghanistan. it is nothing but an absolute waste of the taxpayers' money and the american people are sick and tired of it. a recent poll last week by gallup showed that almost 50% of the american people believe that the war in afghanistan was a mistake to start with. i can honestly say this. if it was not a mistake to start with, it's a mistake now that we continue to support and spend money on a corrupt leader named karzai. mr. speaker -- madam speaker, as i listen to the secretary of defense, chuck hagel, yesterday talk about the financial pressure on our military and the budget that he will be supporting that mr. obama has proposed, i wonder why we in congress are not allowed to debate on
's efforts to dodge the tax man. a hearing will feature top officials from the justice department. peter cook has got the details. credit suisse is about to have a very highlighted moment in the congressional spotlight. i cannot believe this is welcome to them. >> an unwelcome moment, to be sure. as you just detailed, four top executives at credit suisse will find themselves on the hot seat. about what they knew about the efforts to avoid paying taxes and what they have been doing at the bank to clean it up ever since. the report assembled by the staff of the senate's permanent subcommittee includes they employed a range of banking practices that facilitated tax evasion by u.s. customers. they had 22,000 customers with swiss accounts with $10 billion to $12 billion. the vast majority was undeclared to the irs. the investigation details the lengths to which the bank tried to shield its american customers. swiss bankers flew to the u.s. sometimes on tourist visas to recruit new clients. the bank helped create shell accounts to hide identities and even opened a branch office in the zÜrich airpo
tanks -- bangs on the firing line. today was credit suisse's turn to answer. showedt 200 pages worth tax evasion. is match as $10 million was hidden assets. the vast majority of accounts were shielded from the irs. >> that brought the ceo and other top executives at swiss holes of the congress. books are investigation chronicles the uneven and halting progress made in identifying u.s. taxpayers who cheated uncle sam by using offshore accounts. a bipartisan report that we're releasing today sites chapter and verse the failure to collect taxes owed and hold accountable the u.s. persons who evaded their tax obligations and the tax havens who helped them. we learned of one swiss anchor who met with the u.s. client over breakfast that he was luxury hotel and slept the client bank account statements in between the pages of a sports illustrated magazine. instanceslarming belong in a spy novel, not at one of the world's top tanks. betweensay your call two countries laws, but when you come to this country, you send bankers into the united states, set up an office in the united states, help u.s. c
negatively impacted taxes imposed upon one of its most dynamic job creators, the medical device industry. how ironic that you go to talk about creating jobs and economic growth, at the same time a proposal, a provision that was incorporated in the so-called affordable care act imposed a -- an egregious excise tax on not the profits but on the sales receipts of medical device companies simply as a pay-for for the obamacare act. as i said, indiana and minnesota, are home to many of the country's largest medical device manufacturers. in fact, my state of indiana exported more than $9.7 billion in life science products, including medical devices, and is second in the country, only to california, in terms of exports of life science products. so it's very important to our state and we have over 300 f.d.a. registered medical device manufacturers. some of them large, some of them small. they employ 20,000 hoosiers directly with an indirect support by nearly 30,000 more. so it's not a small thing for our state. it's one of the, pardon the pun, cutting-edge industries producing devices that improve the
to power through the spending caps of 2011 of the payroll tax holiday is indicative of the economy. of those such help to bring about the deficit reduction as a balanced approach to making progress to sustainability there were necessarily compounded by the sequestration in march and with the shutdown in october it took a large bite out of fourth quarter gdp growth as well. i will say more about fiscal policy and a moment but that it would be considerably less of a head wind in the years to come. before i move on to the more forward part of my talk i want to make one last point about the economy's progress to put it in a context of what we have seen at around the world with recovery from financial crisis. we know it is longer, harder, the more difficult and with that regard to prepare the united states to compare to the 11 other countries that winters systemic financial crisis as identified and what you see with the working age population and.it within four years which is considerably faster than the normal ted years verses' historic data. is a major -- the measure of the important
. >>> u.s. senate panel investigating tax evasion has accused credit suisse of using cloak and dagger tactics that belong in a spy novel. it alleges c.s. bankers made 150 trips to the u.s. between 2002 and 2000208 orchestrate a large scale tax evasion scheme. some of the things credit suisse is accused of operating remote controlled lifts, and bankers accused of filing false visa applications pretending they were tourists and advising clients how to dodge u.s. tax laws. the senate hearing kicks off late today, shares trading at the bottom, just down just over 3% in trading today. >>> the firm came out to say it considers its insurance policies for wealthy u.s. citizens to be tax compliant. credit suisse has been preparing for investigations into its products known as insurance wrapper wrappers. the long arm of the u.s. treasury, by the way good morning, everybody. you didn't say good morning. >> good morning, sorry, good morning. >> good evening if you're watching in sipping apore as well. good e-mails coming out of credit suisse or conversations out of the investigation? >> it's a li
. the majority of the accounts weren't reported for tax purposes to the irs. and the fed wants more information from troubled bitcoin exchange mt. gox, the "wall street journal" saying mt. gox received a subpoena from federal prosecutors in new york last month to preserve certain documents once the world's biggest bitcoin exchange mt. dpox has gone offline. the business is at a turning point, there's a lot of worry the entire business may be bankrupt and gone forever. the controversy surrounding mt. gox putting a lot of pressure on bitcoin prices, $597.75 is where things are trading now. that was a stock, almost like a stock, it's not a real currency sorry to say, joe. >> now you tell us. >> now. >> now you tell us. >> i am not a bitcoin fan. i believe electronic currency of some sort may flourish in some way. i don't know if bitcoin is the way. >> i thought you were a bitcoin advocate. if now your' saying -- >> i'm fascinated by the conversation around bitcoin. >> you know i'm needling you because you have talked about it a lot. i hope no one mistook what you were saying for like an endorsemen
and medicaid and social security in obamacare. second, we could have pro-growth tax reform and a structure to allow the economy to grow. neil: your party is good at playing these games that does little to sign onto the debt ceiling increase. on and on rigo. you need what you say those. >> but these are the facts the president to stop want to change the mandatory spending program. he does not want pro-growth tax reform failed wanted to have another government shutdown so what republicans had to do was a precautionary measure to stop the administratiin with their madness. it is the least of the bad options. neil: but you will give bin to take a mile and with all the new spending initiatives precisely because they have your number in baking keep spending because you were on the midterm election emprise then you will eventually do the things you wanted in the meantime ising opportunity after opportunity. >> i don't disagree but do you shut the government down again? because that is where we were headed. we just felt this was the worst -- the best of the worst options. to debris' introduced dra
the deficit with $17 trillion in debt. that is a failure on the democratic side and i am a democrat. tax reform that will not only simplify the tax code. this is to simply pay our bills. >> let's talk about bills that specifically the kind that get printed. isust -- and the new chair scheduled to testify tomorrow. her is we will hear from a projection of the continues to recover. we have the fact that moved from washington being net negative on the economic recovery, maybe the neutral. can be a positive aspect. a number of members will press on when we will see some additional relaxation and quantitative easing. >> is that what you're going to ask? are those the questions you'll ask? >> by the time they get down to me, i'm sure that they will be asked. one of the areas that i want to highlight is one of the coming fiscal crisis that we have to get ahead of her. we have now had a true billion dollars in student debt that exceeds credit card debt. we are starting to see the price diminish state and the federal support. with the rising college costs, we bought that off with debt. that is co
to not note -- that the committee that the bank's breakecutive did not help tax laws. the bitcoin industry doing damage control following the shutdown of a virtual currency exchange. they are assuring investors that their funds will not disappear. reports are out that hackers may have stolen more than $390 million in bitcoins. and the data breaches affecting has takenf shoppers its toll on target but fourth-quarter profits fell 46%. whoever, earnings beat estimates. -- faces more than 80 civil lawsuits on the data breach. julie hyman has more on target as well as a look ahead to jcpenney's results after the bell. she is looking at the entire troubled state of retailing today. here in the studio for the next hour, my guest house, restructuring guru who oversaw hostess brands and is now heading a wide range of companies that he will give his take on turning around retailers to overhauling taxes to hiking minimum wage. first, to you on this data breach and the impact on target. >> it definitely had an impact on target. not only did it take charge to fix the data breach, the bridge of credit c
to be fair trade or free trade. we don't need free trade what we need is fair trade. the tax policies, certainly we see this in the kind of tax breaks that are out there, does the oil industry need additional tax brecks? do they need to be -- their incomes, which are the largest profits in the world, do they need to be supplemented with american taxpayer money? right now they are. the big five, $6 billion a year of american taxpayer money, going to them. we talk about tax policy, we talk energy policy, but i want to focus this evening on these two issues. labor and education. leaving aseed the research issue, which is fundamental to future economic growth because you have to be ahead and that's where the research comes and the infrastructure, which i'll weave into this but i want to focus on labor and education. and i want to focus on a very important part of this equation. this very important part about the middle class. and those who want to be in the middle class. specifically, i want to talk about women. and i want to talk about a women's economic agenda. about why this is critica
of both parties, tax reform. the republican version will be officially unveiled tomorrow by the chairman of the house ways and means committee, but the leaders of both parties in the senate held out no hope for getting tax reform done this year. joining me now is msnbc policy analyst ezra klein and david corn, washington bureau chief for mother jones. it looked to me like john boehner had exactly one thing on his mind when he left the white house. i've got to go out on the house floor and prove to my fellow republicans that i am still one of them, even though i was in the room with that guy for about an hour. >> i thought you were going to say golf. i'm glad the guys are talking, but i think we've come to really complete paralysis here in washington. and not surprisingly, i kblam the republicans for much of that. whether it's immigration reform, tax reform, here's some of the things of substance. both parties now are figuring out what to do in terms of having something to talk about for the midterm elections this coming november. there is not a single legislative policy check that boehne
of low interest rates. then on the government side we have less drag from tax increases and spending cuts than we had last year. so i think this year will be noticeably stronger than it was in 2013. >> let's get a quick thought on housing. i agree with most of what you said there bquibble with the ida that incomes are going up very much. there is i'm told a bit of a squeeze on affordability. incomes have not gone up enough to keep up with rising mortgage rates and rising prices. is housing going to slow markedly this year because of that? >> well, certainly affordability has declined from where it was a couple of years ago where we had mortgage rates at 3.25% and prices were down tremendously. however, prices are still down by about 1/5 from where they were at their peak in 2006. we are seeing some job growth, some income growth, and we do see lenders a little bit more willing to lend. so i think although affordability is down somewhat, it's still pretty good on a historical basis. and i think that will be enough to bring people into the housing market. >> thanks a lot, gus. appreciate yo
-class including expansion of the air and income tax credit for workers without children and in addition to the immediate steps the president has set out of range of ideas to invest in education and quick workers for the skills they will need for years to come, measures that help us grow and help ensure that that growth is widely shared. so in conclusion, i would say that the challenges we face are substantial. we continue to have some of the short run challenges, but the bigger ones are the ones that have been building up over the last decade, the slower productivity growth in the postwar years and the increase in inequality. a lot is in place to have more stability and certainty. i think that by itself will be a major help to the economy, but they're is a lot more the weekend should do. i would describe some of that ambitious agenda in my remarks here today and would be happy to discuss more of it in answer to any questions you may have. [applause] >> ken simonson. one of the most unborn things that its share of economic advisers can do is educate an advocate for good, federal statisti
on sale on amazon. they will need to pay taxes on the wealth, likely a million. but they don't want to change their lifestyle and will donate to charity and keep a few coins as keepsakes. >> good for them. that is a great story. don't you want to know the background of who actually put those coins in those canisters and hid them? i wonder why. it would be interesting if they go figure it out. >> it is big mystery >> i'm going to go home and dig up the backyard. >> you never know what you wofi will find. >> new action in the irs profiling scandal. who the lawmakers are hearing from now. plus, president obama with his on the economy taking his job push on the road. and we will talk to senator john thune about it all. thune about it all. that allows you to eat all that you can. filled with water. and the best dot com for booking hotels, is hotels.com. it's on the internet, but you probably knew that. or maybe not, i don't really know you. bellman: welcome back, captain obvious. captain obvious: yes i am. all those words are spelled correctly. jenna: well the president heading to minnea
about tax reform. but today, one republican congressman is trying to change that. correspondent doug mckelway is here with specifics. >> good evening, bret. house ways and means committee chairman has been working to simplify our massive tax code. it's so complex, camp believes it hinders growth. >> i don't think we can afford to wait. i can't settle for an economy that grows at 2%. >> camp unveiled his proposal that includes 228 provisions of the existing tax code. it flattens into two brackets of 10% and 25% for all taxable income. it creates a standard deduction of $11,000 for individuals, $22,000 for married couples. and it ups the child tax credit to $1,500. it also repealed the alternative minimum tax and simplifies the tax of investment income. but in a town that lives and breathes through tax loopholes carved out by special interest, his plan is coming under heavy fire. >> it's a nightmare for accountants and attorneys, once they stop objecting to the provisions, they'll a lot less work to do. >> one such organization said, it's quote, disappointing that he chose to single out p
. >>> there is a new republican plan on the table right now to completely try to overhaul the u.s. tax code. we're going to tell you what it means, what it means for you and your finances. that's coming up next. >>> and later, amid protesters and rite police, it's maybe the last thing you would expect to hear. a piano played by a masked man who says he's playing for pate ittism. [ woman #1 ] why do i cook? because an empty pan is a blank canvas. [ woman #2 ] to share a moment. [ woman #3 ] to travel the world without leaving home. [ male announcer ] whatever the reason. whatever the dish. make it delicious with swanson. why let erectile dysfunction get in your way? talk to your doctor about viagra. ask if your heart is healthy enough for sex. do not take viagra if you take nitrates for chest pain; it may cause an unsafe drop in blood pressure. side effects include headache, flushing, upset stomach, and abnormal vision. to avoid long-term injury, seek immediate medical help for an erection lasting more than four hours. stop taking viagra and call your doctor right away if you experience a sudden
into the marketplace to shop for coverage are often surprised by. financial assistance is available in two forms. tax credits which reduce the cost of premiums and are available to anyone with incomes between 100% and 400% of the federal poverty level. cost sharing reductions are additional assistance available to a subset of those folks, between 100 and 250% of the federal poverty level and those cost sharing reductions fill in the gaps and deductibles and co-pays in health insurance product that people buy. so together tax credits and cautionary reductions provide the core of what the marketplace adds to the health insurance market that financial assistance making coverage affordable for lower and middle income families. to date 82% of the people who have enrolled in a plan through the health insurance marketplace are receiving financial assistance, tax credits orcusion nary re -- or cautionary reductions or both. that number started out low and we've seen tremendous exc acceleration and now the vast majority of people signing up are receiving financial assistance to make that coverage more afforda
as only capitol hill can deliver. a tax code reform plan gets trashed before it even gets officially revealed. oh, washington in the 21st century. good morning from another snowy washington. sorry, we're whining about the weather, but good grief. we're done. groundhog, go ahead. it's wednesday, february 26th, 2014. and another version of the snowy "the daily rundown." the first reads of the morning. we begin in afghanistan. it's the longest war in history and it suddenly may come to an abrupt end, just ten months from now. the white house announced planning for the zero option, withdrawing all troops by year's end. in a phone call with karzai, president obama said the u.s. had no choice due to karzai's failure to sign onto plans that would protect u.s. personnel that would stay in the country post-2014. nbc's jim miklaszewski has just travelled to afghanistan, and he has more from the head of the joint chiefs, general martin dempsey. >> it is a statement that we have reached a point where we have to plan for other options, to include a complete withdrawal by the end of 2014. but it's
spent. i was just doing a tally here, chuck, and we've got in fuel vehicle taxes, $85.5 billion a year. revenue just from toll roads that the state is addressing the same problems amounts to $12 billion a year. we have property taxes and assessments that go to fixing our roads and bridges, to the tune of $10 billion a year. and i could go on with the additional taxes of $14.5 billion. the oil company taxes combine now north of $65 billion, much of were supposed to be earmarked to just this sort of thing. so i'm all for fixing our roads and bridges. i just wonder what the hell happened to all that money to do just that? >> i think the infrastructure is getting older every single year and i think there's a lot of money going toward infrastructure, but i never think we could spend enough on the infrastructure because it actually puts people back to work. >> wait a minute, i've added all those up, it's $125 billion and then some. >> right. >> if that isn't enough to deal with this infrastructure, then we're using either gold or we're paying these guys a thousand dollars an hour. but that s
numbers are higher, because. it does not include all of excise taxes or increasing people up to age of6 on your policies it looks at one thing, i want to point-out, ty are getting rid of age differential, if y are older your premiums may be aittle bit lowerbut if you are younger, your premiums are skyrocketing, if you are health you, you pay for those who are sicker and older, that is an entitlement society, that is where we're headed. you don think that young workers have enough on their backs without paying for someone who has been smoking their career, 50% increase for smoking is aowed in premiums, where i sit in the doctor's was on the, you get every disease imaginable, someone who is young, is paying for someone's lung cancer that is coming from smoking. lou: i find incredible, we're inverting a model, it was if yo@ are healthy and young you would pay a lower premium but not in the neverland of obamacare. the healthy you are the younger you are the more you are going to be paying for those who are older, who need greater care. what sense ds that make? i understand the incentive for
's tax system but it's unlikely to advance this year. republican dave camp chairs the house ways and means committee. he called for lowering the top income tax rate from 39.6% to 25%. he'd also impose a ten percent surtax on earned incomes over $450,000 dollars. house speaker john boehner would not say if the party supports the bill, and he refused to discuss the details. >> blah, blah, blah, blah. listen, there's a conversation that needs to begin. this is the beginning of the conversation. the idea of tax reform is to get our economy going again, provide better, more economic growth, more jobs, and higher wages. the way you do that is bring down rates. and to bring down rates you clean out a lot of the garbage that's in there and the special interest issues that are in there. >> ifill: the last major overhaul of the tax code was in 1986. that data breach at target stores before the holiday shopping season took a hefty toll on the company's bottom line. profit dropped 46% in the fourth quarter, and revenue slipped more than 5%. the data breach allowed hackers to steal personal i
," a capitol hill heavyweight tells nancy cordes about his new plan to revolutionize the tax code. >>> plus dr. david agus with the controversy over fertility treatment. does it go too far to stop birth defects? >>> we begin with this morning's "eye-opener," your world in 90 seconds. >> we saw the news that the storm was coming so we went down to the city yard to pick up sandbags. >> the west coast braces for a washout. southern californiaens loading up on supplies ahead two of pacific storms. >> many people worried about mudslides. >> water comes over, it looks like niagra falls. >> dropping temperatures from the midwest to the east, 20 to 30 degrees below normal. >> adding to the cold-weather problems, ice jams. >> you look at it and it's mass destruction. can't stop the ice. >> jan brewer won't say if she'll veto a controversial bill that allows arizona businesses to deny service to gays and lesbians. >> there's a lot of things we can bring into the state, and this just doesn't help at all in any of those. >> general motors links more deaths to a faulty ignition switch,
, there are talks about tax credits, there are talks about reducing the number on medicaid but allowing home to have vouchers so it depends on which alternative you're talking about. >> sure you'll talk much more about this later. jake tapper, many thanks. >> thank you. >>> other top stories we're following at 32 minutes past the hour, in arizona gay rights protesters say they will rally through the night as they call on the governor to veto a bill that is drawing national criticism. some lawmakers who voted for the bill proclaiming it protects religious rights. they are now seeking a veto citing new concerns over discrimination. >>> in the debate, yes, i heard all that but in the debate you hear arguments every day about this one is wrong, that one is wrong, and believed that kind of fit into my position that now when i look back on it, you know, they were right in what they were saying. i have friends in the democrat caucus that were warning me. but, you know, that was only the democratic caucus saying something, no one came to me before hand. >> so you actually believe looking at it now that it
proposed i.r.s. rules, limiting the political activities of certain tax-exempt groups. political leaders said this morning a vote of flood insurance will be put off until next week. it was supposed to be brought up tomorrow under suspension of the rules. live house coverage here on c-span. the speaker: the house will be in order. the prayer will be offered by our chaplain, father conroy. pray. n conroy: let us eternal god, through whom we see what we could be and what we can become, thank you for giving us another day. in these days, our nation is faced with pressing issues, constitutional, religious, and personal rights, and matters of great political importance. we thank you that so many americans have been challenged and risen to the exercise of their responsibilities as citizens to participate in the great debates of these days. grant wisdom, knowledge, and understanding to us all as we -- as well as an extra measure of charity. send your spirit upon the members of this people's house who walk through this valley under public scrutiny. ive them peace and solomonic prudence in their d
in tax revenue to the state. what do you say? legalize week nationwide for recreational use? yes or no? >> i would say no. there is a desire on the part of government illegalize it and anything compact and bring in some cash. stuart: $100 million. >> i would say no. it gives us amen, the availability for a -- particularly in colorado here in the placement of machines so government money can be used easily to buy marijuana in certain situations as we saw recently. that makes it easier. there's a transfer. if it were ten miles away. probably still happen. in terms of legalization i think not until we understand how to actually test it. we have seen accidents with vehicles involving marijuana up 300% in the last decade. i need to be convincee that that would be a great idea for the future and the children. stuart: it was great to have you on the show. ou have an opinion and express it well. thank you for appearing with us. >> an honor to be with you. you might pop in here again this week. stuart: don't make projections you are not able to fulfil. time is money. let's move this along. thre
not include all of excise taxes or increasing people up to age of 26 on your policies it looks at one thing, i want to point-out, they are getting rid of age differential, if you are older your premiums may be a little bit lower, but if you are younger, your premiums are skyrocketing, if you are health you, you pay for those who are sicker and older, that is an entitlement society, that is where we're headed. you don't think that young workers have enough on their backs without paying for someone who has been smoking their career, 50% increase for smoking is allowed in premiums, where i sit in the doctor's was on the, you get every disease imaginable, someone who is young, is paying for someone's lung cancer that is coming from smoking. lou: i find incredible, we're inverting a model, it was if yo@ are healthy and young you would pay a lower premium but not in the neverland of obamacare. the healthy you are the younger you are the more you are going to be paying for those who are older, who need greater care. what sense does that make? i understand the incentive for government to do it, but it
in swiss bank accounts and held avoid tax. between 2001 and 2008 a band of credit suisse bankers, they boarded planes and headed en masse to the united states on tourist visas. once in america it was time to woo possible clients. trips to miami, golf tournaments and high society cocktail party was part of the course. it was here that "sports illustrated" magazines were used to hand over bank statements on the sly. page 39, bob, that's according to one client. it all sounds very "wolf on wall street." the report claims the bank opened swiss accounts for more than 22,000 u.s. customers with assets totaling some $12 billion. that is why the u.s. is annoyed. it wants the taxes the swiss banks helped americans to dodge. our correspondent imojen foulkes is following the story from geneva. >> reporter: i think some of the detail is causing raised eyebrows in switzerland. they have a reputation for being rather cautious and careful. this comes like something out of a spy novel or a hollywood movie. the fact is the swiss do know that their big banks, credit suisse and ubs, at that period
that are in the papers this morning. here's the wall street journal. a column by dave camp. the tax code. you can read his proposal there. the congressman is the chairman of the house ways and means committee. the washington times today, hoping for a changed view of keystone xl. paul writes in his piece that -- we will be talking about the keystone. we will be joined by the senator from north dakota to talk about the keystone and other issues. we want to take you to an associated press report. obama health insurance at 4 million is the headline there. we will be talking about the rollout of the healthcare.gov with jonathan alter who wrote a recent piece on foreign affairs in our spotlight. , behind the called aca rollout. here's a piece in the washington times on bill clinton. his message for democrats. picture of him with a kentucky democrat in louisville yesterday. himes.e talking with jim the national finance chairman of the house democrats. we will be talking about the 2014 field coming up in about five minutes or so. have a bit of time left. go to doug in wake forest, north carolina on our line f
the growth of tax-free housing loans are currently cover one hundred percent of housing expenses until they cover an average number of 95% of housing expenses, with a five percent out-of-pocket contribution. why comparison, the average was late 1990's. we will also no longer reimburse for renters insurance. over three years we will reduce by $1 billion the annual nowidies provided, which total $1.4 billion. we are not shutting down commissary's. all commissaries will still get .ree rent and pay no taxes they will be able to continue to provide good deals to service members and retirees. enlistedi am an person, what does that mean for me? at the end of the day? nothing. this is probably the most difficult part of the program going forward. they are talking about trying to redress paying benefits, but a lot of the analysis shows that -- thatgoing to be done this will be nearly impossible. no one in a year like this wants to be seen cutting benefits. secretary hagel is saying that we just need to reign things in, we will not cut pay for anyone. we are just going to reduce subsidies for gr
. the number two swiss bank will put up a bill for helping american clients evade taxes. now the son is asking what exactly to the justice department so long to clamp down. ,ady dougan, c -- brady dougan ceo of credit suisse will be testifying in washington. we want to go to berlin where our international correspondent hans nichols is. with this into perspective with us because the sec began investigating this last year and are now just getting around to holding a hearing. why the lag? beenll, they have compiling this report, this committee report. we spent a lot of time with brady dougan. every quarter we go down and interview him. the question really today, tom, you know that swiss bankers are the most sophisticated people in the world. ifeel like i blunder when just say hello to them. today we find out whether or not an americann is banker or a swiss banker because he has got a tough, tough challenge. the facts don't reconcile. we have heard from in this morning they are talking about a handful of employees did this. the committee report said 1800 employees. they will have to reconcile thes
taxed in colorado. and it is generating a huge amount of revenue for the state. so, perhaps they think that if they put cash in people's hands they will go buy pot and somehow that revenue will come into the state. that's the only explanation that i can think of. >> the three legislators who voted for it. i wanted to try to get one on the show maybe tomorrow we will do it. but, look, they have all of these excuses that oh, it's got to be convenient. okay, but you can't ban them from alcohol and then try to promote pot. because, remember, the state gets money from alcohol, too. they get tax money. so all of those arguments fall apart. >> remember, they are against cigarette smoking with all these warnings. >> but they want you to smoke pot. >> there is an interesting case that's going to come up, i think in washington state which is also legalized marijuana. they don't have any pot shops opened yet we suspect in the summertime now that it's legal they will start. we will see if they go down the same path where they will allow access to cash from ebts for the use of pot. so far colorado
businesses they're paying savings and a property tax and payroll tax and normally adhere san franciscans so their bowing goods and services in san francisco it really helps the economy of san francisco grow so its not only a benefit to the project but to the city. the contractors center is 5 thomas melon circle in the bayview area open 8:30 to 5 welcom >> good afternoon, everybody let me please call this meeting of the san francisco public utilities commission at the 1:40 p.m. sfgovtv requires you to speak into the microphone otherwise the public can't hear our discussion. call roll >> commissioner president courtney. commissioner moran. commissioner torres. conditioning and commissioner vietor are on their way a you tell me 3 is the approval of the minutes from february 11, 2014. commissioners >> move to accept. >> any public comment on the minutes of
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